Nevada bank fails
Another state bank—Nevada Commerce Bank in Las Vegas—has failed after three years of deficits. Since 2009 Commerce had been under a federal order to become solvent, but at the end, half its loans were nonperforming and the bank was still heavily invested in construction and real estate, though the feds had instructed the bank to reduce its reliance on commercial real estate (“Nevada’s problem banks,” RN&R, Feb. 17). City National Bank, a Los Angeles commercial lender, agreed to take over the institution, its second acquisition of a troubled Nevada bank. In May 2010, it took over Sun West Bank of Nevada.